How to Build on a Record Jobs Year
The US economy gained 467,000 jobs last month—part of the 6.1 million jobs added over 12 months.
We’re experiencing “the fastest employment rebound in modern history,” Roosevelt President and CEO Felicia Wong wrote this week.
And that’s no accident. It’s a byproduct of major government investments and relief efforts—most significantly, the American Rescue Plan, as Roosevelt’s Mike Konczal notes.
And it’s a result of a revolution in thinking at the Federal Reserve, which has realized how far from full employment we were in the past.
More work remains. “Wage gains attracted many back into the labor force, but 1.8 million were prevented from looking for work due to the pandemic,” Roosevelt’s Alí Bustamante tweeted today.
“Achieving full employment means eliminating the constraints keeping millions of Americans from the work they want.”
It also means building on the Fed’s success to ensure Black workers aren’t excluded from this labor market expansion.
As Wong wrote in advance of this week’s Fed confirmation hearing, Biden’s nominees are the right ones for the moment.
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